Global Sleep tech devices market was valued at $11.9 billion in 2021 and it is expected to reach $49.3 billion at a CAGR of 13.50% through the forecast period.
MILWAUKEE, WISCONSIN, UNITED STATES, April 24, 2022 /EINPresswire.com/ — According to a market report, published by Sheer Analytics and Insights, the total sleep tech devices market was valued at $11.9 billion in 2021 and it is expected to reach $49.3 billion at a CAGR of 13.50% through the forecast period. At present days, people are having several diseases. Sleep disorder is one of them. It is used to estimate someone’s sleep state; therefore, the devices are also being used by various people all over the globe. This device is an electronic system used for people who have sleep disorders such as sleep narcolepsy, insomnia, and apnea. The device can monitor sleep. It is available with wearable smart watches, headbands, rings, sleep pads, and earplugs facilities in the global market. Some major factors such as the increasing prevalence of geriatric population suffering from sleeping problems, different lifestyles, and intake of unhealthy foods has increased anxiety and depression rate among youths and females are driving the growth of the sleep tech devices across the globe. Therefore, the rising adoption of this device is expected to drive the market during the forecast period.
Based on the product type, sleep tech devices are segmented into wearable and non-wearable divisions. The wearable division is further divided into smart watches and bands. Non-wearable devices are segmented into sleep monitors and beds. However, wearable devices are more popular than non-wearable devices. Due to the increasing prevalence of the geriatric population in Europe and North America, the sleep tech device market is expected to grow at the highest rate over the upcoming years. Based on gender analysis, females are highly choosing these devices which have driven the market over a couple of years. Moreover, the major hormonal transition in a women’s life such as menstruation, menopause, and pregnancy is the major factor that is driving the growth rate of sleep tech devices at present days.
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Sleep apnea is another major sleeping disorder people are facing at present days. Based on age, the below 40 years category is expected to be the fastest category among other populations in the market through the forecast period. However, sleep tech devices with advanced technologies would prove to be beneficial for the growth of the industries. New innovative sleep tech devices have enhanced the comfort levels of individuals suffering from several chronic disorders. North America is expected to dominate the sleep tech devices market in the upcoming years. In this region geriatric population is at higher risk of insomnia which has driven the market growth over the last few years.
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Key players such as Beddit Apple Inc (Finland), Casper Sleep Inc (US), Dodow (France), Eight Sleep (US), Emfit Limited (Finland), FitBit Inc (US), Oura Health Limited (Finland), Sleep Shepherd LLC (US), Withings (France), Xiaomi (China), ResMed (US), Braebon Medical Corporation (Canada), Sleepace (China) among others are leading the sleep tech devices market across the globe.
The Global Sleep Tech Devices Market Has Been Segmented Into:
The Global Sleep Tech Devices Market – By Product Type:
The Global Sleep Tech Devices Market – By Sleeping Disorders:
The Global Sleep Tech Devices Market – By Distributional Channel:
Direct to Consumers
The Global Sleep Tech Devices Market – By Region Type:
Rest of Europe countries
Rest of Asian Countries
Latin America, Middle East & Africa (LAMEA):
Rest of LAMEA
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April 24, 2022, 15:35 GMT
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